San Diego Distressed Property Sellers Tips

Selling a distressed property is often time-consuming and stressful. In a perfect world, the selling process would always go as fast and as easy as possible. But you’re dealing with reality where things aren’t always so smooth. However, selling your distressed house in San Diego will go much easier if you follow these 8 expert tips.

Selling Tip 1. Skip the Costly Agent
Listing your San Diego home costs money. And in spite of what an agent tells you, there’s no way to know when or if the home will sell. You can skip the agent and sell your distressed property to a professional buyer instead. Professional buyers such as Trusted House Buyers take the guesswork out of selling a distressed property. When you sell the house directly to a buyer, you know the exact date of the closing. Plus, you’ll have no agent’s fees or commission to pay.

Selling Tip 2. Keep Your Calm
You might start to panic if your home doesn’t sell right away. Just keep calm. There are fewer buyers for distressed properties. And finding a buyer might take longer than you anticipate. The waiting game is even more frustrating if you’re trying to sell the property by a specific time. If you’re pressed for time, selling directly to a cash buyer is likely the best option.

Selling Tip 3. Practice Honesty
You might think withholding information about the property isn’t a big deal. But you need to think again. Being upfront about your property is the best option. If you fail to let buyers know about defects, they’ll have grounds for a lawsuit after the purchase is done. If a buyer is put off by the information, then just move on to the next prospect. You’ll eventually find the perfect buyer.

Selling Tip 4. Market to a Specific Type of Buyer
Some buyers specialize in buying distressed properties. If you make contact with one of these buyers, then you’re more likely to quickly sell your home. Investors are usually in this category because they see your home as an investment. They might rent the home to tenants, make renovations and sell the home for a profit, or use the home as a vacation spot. Find someone locally who is reputable, and has a good reputation for buying houses.

Selling Tip 5. Spruce it Up
Improving the look of your home can make it sell faster. It may need major repairs that you can’t afford. Or perhaps the foreclosure is fast approaching. Even if you can’t do much, do as much as you can to improve the appearance of the property. Help people see the property’s potential instead of focusing on its flaws.

Selling Tip 6. Correctly Value the Property
Plenty of sellers mistakenly overvalue their property. You might forget about repairs and upgrades that the property needs. And as a result, you fail to realize that the home is worth less than you thought. Set a realistic asking price that takes needed repairs into account.

Selling Tip 7. Pay Close Attention to Paperwork
Selling the house on your own means you’re responsible for all the paperwork. And when you’re selling property, it’s important to make sure all documents are done right. You’ll need a legally binding contract and disclosure document in order to protect yourself and the buyer. If you work with us, we’ll handle the paperwork. We’ll also explain everything so you know exactly what’s going on.

Selling Tip 8. Have a Backup Plan
You need a backup plan in case you’re unable to sell the property. It’s a worst-case scenario but it can happen. Perhaps you can rent the property to a tenant or get a loan to make much-needed renovations. Sit down and think about what you’ll do in case the house doesn’t sell. Hopefully, you won’t face this problem. But if you do, then you’ll already have a plan in place.